Garmin Ltd. $GRMN Shares Purchased by Neuberger Berman Group LLC

Neuberger Berman Group LLC grew its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 13.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,710 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,159 shares during the quarter. Neuberger Berman Group LLC’s holdings in Garmin were worth $3,697,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GRMN. Andra AP fonden raised its stake in Garmin by 87.2% during the second quarter. Andra AP fonden now owns 67,000 shares of the scientific and technical instruments company’s stock worth $13,984,000 after purchasing an additional 31,200 shares during the period. First Horizon Advisors Inc. grew its position in Garmin by 4.2% during the second quarter. First Horizon Advisors Inc. now owns 121,552 shares of the scientific and technical instruments company’s stock valued at $25,370,000 after acquiring an additional 4,943 shares during the period. EFG Asset Management Americas Corp. raised its holdings in shares of Garmin by 34.1% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 10,455 shares of the scientific and technical instruments company’s stock worth $2,182,000 after purchasing an additional 2,659 shares during the period. Vanguard Group Inc. lifted its stake in shares of Garmin by 6.9% in the 2nd quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock valued at $4,111,435,000 after purchasing an additional 1,273,163 shares in the last quarter. Finally, Jefferies Financial Group Inc. grew its holdings in shares of Garmin by 121.2% during the 2nd quarter. Jefferies Financial Group Inc. now owns 37,699 shares of the scientific and technical instruments company’s stock worth $7,869,000 after purchasing an additional 20,659 shares during the period. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on GRMN shares. Barclays lifted their price target on shares of Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. Morgan Stanley increased their price target on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Finally, Tigress Financial boosted their price objective on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $239.50.

Garmin Stock Up 0.5%

Shares of GRMN stock opened at $195.72 on Friday. The company has a market cap of $37.64 billion, a P/E ratio of 24.10, a PEG ratio of 2.41 and a beta of 1.01. The business has a 50 day moving average of $226.13 and a two-hundred day moving average of $222.06. Garmin Ltd. has a 52 week low of $169.26 and a 52 week high of $261.69.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.99. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the business posted $1.99 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. Analysts expect that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.